Daily Gold News: Monday, Feb. 22 – Gold Price Remains Close to $1,800

The gold futures contract gained 0.14% on Friday, as it extended its short-term consolidation after the recent decline below $1,800 price level. Earlier this month it broke below the previous local low following strengthening U.S. dollar and rallying stock market, among other factors. The market gave back all of December’s advance. Gold is getting close to $1,800 level again, as we can see on the daily chart ( the chart includes today’s intraday data ):

Gold is 0.7% higher this morning, as it is retracing some of last week’s decline. What about the other precious metals? Silver is 0.4% higher, platinum is 0.3% lower and palladium is virtually unchanged today. So precious metals are higher this morning.

Friday’s U.S. Flash Manufacturing PMI, Flash Services PMI releases have been slightly better than expected. Today we will get the CB Leading Index release at 10:00 a.m. and some Fed-talk at 3:30 p.m.

The markets will be waiting for this week’s Fed Chair Powell ’s testimony.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:

Monday, February 22

• 4:00 a.m. Eurozone – German ifo Business Climate
• 9:30 a.m. Eurozone – ECB President Lagarde Speech
• 10:00 a.m. U.S. – CB Leading Index m/m
• 3:30 p.m. U.S. – FOMC Member Bowman Speech
• All Day, Japan – Bank Holiday

Tuesday, February 23

• 9:00 a.m. U.S. – HPI m/m, S&P/CS Composite-20 HPI y/y
• 10:00 a.m. U.S. – Fed Chair Powell Testimony , CB Consumer Confidence, Richmond Manufacturing Index
• 12:30 p.m. Canada – BOC Governor Macklem Speech

For a look at all of today’s economic events, check out our economic calendar.

Paul Rejczak
Stock Selection Strategist
Sunshine Profits: Analysis. Care. Profits.
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